We recently took a look at McKinsey’s brand new report on how social tools are transforming business, and we’re excited with the direction that things are going. Here are our top 10 insights, but to read the complete version of the report, check it out here.
1. Social technology is being intertwined into a wide variety of functional areas within a business to drive big results (especially with PR, Marketing, Sales, and R&D).
2. Over the next three years, investment in social tools in the enterprise will increase—with an increase in mobile-focused technology.
3. Today’s executives believe that new social technologies will create big changes in structural and management processes.
4. In order to achieve increased productivity, companies must become better at engaging employees’ through the use of social tools.
5. Highly interactive technologies with two-way style communication will replace traditional wikis and podcasts.
6. Adoption of enterprise social tools by employees is more likely to happen on mobile versus non-mobile devices (in fact, 72% of execs say that employees are using at least one social tool on mobile already).
7. Social technologies are most commonly used in marketing, sales, and CRM. (Not surprisingly, marketing, sales, and IT employees are the most comfortable with social tools, and using them on mobile).
8. Operational processes (including risk management, strategy, and talent) are rarely supported with social tools, thus offering a largely untapped opportunity for growth.
9. In order to get the most out of new social technology, the tool must be implemented in a way that changes how an employee works in their day-to-day.
10. New social tools are driving business benefits, but measuring ROI and value metrics still, remain a challenge. Companies can focus on this during the implementation of new tools, and with the use of control groups, there will be new data to help better quantify the return.
The good: Social and mobile investment is on the rise, and companies have an opportunity to leverage new tools to create tremendous value in functional areas outside of marketing and sales.
The bad: Measurability and ROI remain difficult to capture (but great strides are being made in this regard).
The opportunity: The mobile digital revolution is upon us, and companies will be able to benefit from data on processes and practices they’ve never been able to measure before!